All posts tagged Global Gold ETFs

Last week, global gold exchange-traded funds — such as the SPDR Gold Trust (GLD) – suffered their largest outflow since January 2011, according to ETF Securities and a phenomenon noted in an email by Michael Shaoul of Marketfield Asset Management. The liquidation sparked a fairly sizable selloff, with the precious metal falling below $1600 an ounce and touching a seven-month low. From Shaoul:

There are finally some signs of impatience amongst global gold ETF holders with the total ounces of the metal held in global ETFs falling by -1.36mm oz, or -1.62% over the course of last week, to 82.3 mm oz. This is the largest weekly fall since the week ended January 28th 2011 when -1.65mm oz (-2.37%) were redeemed from global ETFs.

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